Renaissance Technologies LLC grew its holdings in shares of loanDepot, Inc. (NYSE:LDI – Free Report) by 192.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 819,800 shares of the company’s stock after acquiring an additional 539,452 shares during the quarter. Renaissance Technologies LLC owned about 0.24% of loanDepot worth $1,164,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of LDI. GSA Capital Partners LLP raised its stake in loanDepot by 2,266.6% in the fourth quarter. GSA Capital Partners LLP now owns 503,499 shares of the company’s stock valued at $1,042,000 after purchasing an additional 482,224 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in loanDepot in the 2nd quarter worth approximately $57,000. Mariner LLC purchased a new position in loanDepot in the 4th quarter worth approximately $49,000. Invesco Ltd. bought a new position in shares of loanDepot in the 1st quarter worth $44,000. Finally, Insigneo Advisory Services LLC bought a new position in shares of loanDepot in the 4th quarter worth $39,000. Hedge funds and other institutional investors own 39.39% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on LDI shares. The Goldman Sachs Group set a $1.00 price objective on shares of loanDepot in a report on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of loanDepot in a research note on Friday, July 17th. Zacks Research raised loanDepot from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 29th. Finally, Wall Street Zen upgraded loanDepot from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Three analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, loanDepot has an average rating of “Reduce” and a consensus price target of $1.92.
loanDepot Price Performance
LDI stock opened at $0.95 on Friday. The firm has a market cap of $321.27 million, a P/E ratio of -3.17 and a beta of 3.37. The firm’s fifty day moving average is $1.10 and its 200 day moving average is $1.46. loanDepot, Inc. has a 52 week low of $0.83 and a 52 week high of $5.05. The company has a debt-to-equity ratio of 10.26, a quick ratio of 1.11 and a current ratio of 1.11.
loanDepot Profile
loanDepot, Inc (NYSE: LDI) is a leading non-bank consumer lender that provides a broad range of home and personal financing products through a digitally enabled platform. The company specializes in originating and servicing purchase and refinance mortgage loans, home equity lines of credit (HELOCs), and personal loans. Through its proprietary mello™ technology suite, loanDepot streamlines the application, underwriting, and closing processes for borrowers and real estate professionals, emphasizing speed, transparency, and a seamless digital experience.
Founded in 2010 by Anthony Hsieh, loanDepot has grown rapidly to become one of the largest independent mortgage lenders in the United States.
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